The Arbitrum DAO is providing an opportunity to the crypto ecosystem to earn returns through staking. This governance proposal, which activates the staking feature for ARB token holders, was approved with widespread support. In the voting process, a significant majority of the community backed the most conservative level of the proposed staking model, a 1% allocation (100 million tokens). However, 33% voted against the proposal.
Following the news, the ARB token experienced a 3.47% increase in value.
As a result of the vote, Arbitrum DAO will now focus on the next steps, which will clarify the technical and operational details of the staking mechanism. The upcoming process will include critical decisions such as selecting the technology service provider, creating staking contracts, and appointing an independent auditor to ensure the process’s transparency and security.
The fact that the staking program will be financed from the treasury could make the Arbitrum ecosystem even more attractive by providing a direct stream of returns to its users. Moreover, the rewards will be distributed over 12 months, which encourages long-term investment.
Source: The Block
